LONG BEACH, Calif. and TORONTO, July 07, 2026 (GLOBE NEWSWIRE) -- Glass House Brands Inc. ("Glass House" or the "Company") (CBOE CA: GLAS.A.U) (NYSE: GLAS) today announced the completion of its first international sale of smokeable CBD biomass to Europe. The product sold was part of the initial commercial harvest of Greenhouse 4 of the Company's Camarillo Farm. This greenhouse was initially planted for commercial hemp in Winter 2025.
All hemp biomass produced in Greenhouse 4 is fully compliant with California regulations and will remain sellable under the proposed federal intoxicating hemp ban. While initial sales are focused on European distribution, longer term, Greenhouse 4 production is being positioned for supply into the proposed federal Medicare reimbursable CBD program.
"We are very pleased with our team's initial harvest and early sales with commercial hemp," said Kyle Kazan, Co-Founder, Chairman and CEO of Glass House. "Our initial hemp sale to Europe is a historic step for the company as it reflects the first sale of any Glass House product outside our home state of California. We will continue to develop this product line and plan to use initial sales experiences for both R&D and brand development ahead of anticipated near-term medical cannabis sales into Europe. To be clear, we will compliantly grow whatever cannabis and hemp that we can sell for the highest price as the legal channels continue to open for us."
"Furthermore, given our experience as a leading scaled producer of quality cannabis and our on-going collaborative relationship with UC Berkeley on the development of cannabinoids for novel medical products, Glass House is uniquely qualified to participate in the growth opportunities ahead for the US CBD market including any reimbursable Medicare program as was proposed by President Trump last December. We anticipate that any reimbursable program will lead to CBD product development from both traditional CPG and pharma and we welcome the opportunity to supply these new addressable markets with product from Greenhouse 4."
About Glass House Brands
Glass House is one of the fastest-growing, cannabis companies in the U.S., with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. Whether it be through its portfolio of brands, which includes Glass House Farms PLUS Products Allswell and Mama Sue Wellness or as a wholesale biomass supplier, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all. For more information and company updates, visit www.glasshousebrands.com/ and https://ir.glasshousebrands.com/contact/email-alerts/
Forward Looking Statements
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or Glass House's future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward- looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. All forward-looking statements, including those herein, are qualified by this cautionary statement. Although Glass House believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Accordingly, readers should not place undue reliance on forward-looking statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including those risks disclosed in the Glass House's Annual Information Form available on SEDAR+ at www.sedarplus.ca and in Glass House's Form 40-F available on EDGAR at www.sec.gov. For more information on Glass House, investors are encouraged to review Glass House's public filings on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. The forward-looking statements and financial outlooks contained in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. Glass House disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
For further information, please contact:
Glass House Brands Inc.
Jon DeCourcey, Vice President of Investor Relations
T: (781) 724 6869
E: ir@glasshousebrands.com
Investor Relations Contact:
KCSA Strategic Communications
Phil Carlson
T: 212-896-1233
E: GlassHouseIR@kcsa.com
